Atria Wealth Solutions Inc. Sells 2,440 Shares of Garmin Ltd. (NYSE:GRMN)

Atria Wealth Solutions Inc. lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 31.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,257 shares of the scientific and technical instruments company’s stock after selling 2,440 shares during the period. Atria Wealth Solutions Inc.’s holdings in Garmin were worth $1,084,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Garmin in the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. purchased a new stake in Garmin in the 4th quarter valued at $29,000. SOA Wealth Advisors LLC. bought a new position in Garmin during the 4th quarter valued at $37,000. Larson Financial Group LLC boosted its holdings in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares during the last quarter. Finally, Kentucky Trust Co bought a new stake in shares of Garmin in the 4th quarter worth $41,000. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 0.9 %

GRMN opened at $222.59 on Tuesday. Garmin Ltd. has a twelve month low of $133.16 and a twelve month high of $246.50. The company’s 50-day moving average price is $213.43 and its two-hundred day moving average price is $195.96. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. Garmin’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is currently 41.04%.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley raised shares of Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Tigress Financial lifted their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $206.80.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.